Take action to reduce our national debt
The 2017 Tax Cuts and Jobs Act burdened future generations with an additional $1.9 trillion in debt at a time when we should have been reducing the deficit. Emergency spending to address the COVID-19 pandemic has only worsened our fiscal position. Going forward, Dean is committed to doing what he can to make fiscal responsibility an American concern. Congress could also take quick action to save taxpayer dollars through an orderly military withdrawal from Iraq and Afghanistan ($440 billion in savings over 10 years), negotiating prescription drug prices through Medicare ($230 billion in savings over 10 years), and passing comprehensive immigration reform ($170 billion in savings over 10 years).
Make government more efficient
Dean has been an active participant in the effort to modernize Congress, which is a 19th Century institution operating in a 21st Century world. Businesses and individuals have already adopted new ways of doing things to save time and money, and Congress should too. And while the government does not operate like a business, Dean believes more emphasis should be placed on efficient spending through ROI analyses and regular audits of government spending to ensure they are delivering results and value.
Ensure tax policy disproportionately benefits middle-income Americans
Elements of the 2017 tax bill were positive, including the reduction in the corporate tax rate to make U.S. businesses more competitive and to repatriate overseas profits back to the U.S. Still, 83% of the benefits went to the top 1% of earners, meaning the bill exploded the deficit without providing most Americans relief in the long-term. Dean believes the wealthiest Americans must pay their fair share in taxes, and he’ll work to end the special giveaways and sweetheart deals for special interests in the tax code.
Reconvene a National Commission on Fiscal Responsibility
While President Obama made an effort to restore fiscal responsibility through the National Commission on Fiscal Responsibility and Reform, the report produced by the Commission did not reach the required threshold to be sent to Congress, and most of its ideas fell by the wayside. Now, with our country even deeper in debt, Dean supports reconvening a commission to explore opportunities for bipartisan reforms to reduce spending and use tax dollars more efficiently without harming the most vulnerable.